EASEMYTRIP

September 20, 2022 BSE Ltd. National Stock Exchange of India Limited (NSE). P J Towers, Dalal Street, Exchange Plaza, Bandra Kurla Complex, Bandra Fort Mumbai – 400001 East, Mumbai – 400051 Scrip Code: 543272 Symbol: EASEMYTRIP Subject: Investor Presentation Dear Sir/Ma’am, With reference to the listing compliances, we hereby submit Investor Presentation (figures in USD) of Easy Trip Planners Limited. The aforesaid information will also be hosted on the website of the Company at www.easemytrip.com. You are requested to take the aforesaid on record. For Easy Trip Planners Limited Priyanka Tiwari Company Secretary and Chief Compliance Officer Membership No.: A50412 Easy Trip Planners Limited Investor Presentation Confidential September 2022 Disclaimer ThispresentationhasbeenpreparedforgeneralinformationpurposesinrespectofEasyTripPlannersLimited(“Company”)togetherwithitssubsidiaries,associatesandjointventures,asapplicable(together,withtheCompany,the“Group”)only, withoutregardtoanyspecificobjectives,suitability,financialsituationsandneedsofanyparticularpersonanddoesnotconstituteanyrecommendationorformpartofanyofferorinvitation,directlyorindirectly,inanymanner,orinducementtosellor issue,oranysolicitationofanyoffertopurchaseorsubscribefor,anysecuritiesoftheCompanyinanyjurisdiction,norshallitoranypartofitorthefactofitsdistributionformthebasisof,orbereliedoninconnectionwith,anycontractorcommitment therefor.Thispresentationdoesnotsolicitanyactionbasedonthematerialcontainedherein.NothinginthispresentationisintendedbytheGrouptobeconstruedaslegal,accountingortaxadvice. 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Byaccessingthispresentation,youacceptthisdisclaimerandanyclaimsarisingoutoforinconnectionwiththispresentationshallbegovernedbythelawsofIndiaandonlythecourtsintheconcernedstateinIndiaandnoothercourtsshallhave jurisdictionoverthesame. 1 EaseMyTrip – 2nd largest OTA in India1 Key Performance Indictors End-to-end travel solutions 11 Mn Customers2 Air Hotels and Rail Bus Taxi Ancillary value- Geographical Presence Tickets holiday Tickets Tickets Rentals added services: packages travel insurance, visa processing etc. Distribution channels 400+ 45k+ Travel International & Agents2 domestic airline access3 B2B2C B2C B2E Diversified Segment Presence4 ~99 2+ 6.5% % Mn 1QFY23 90.6% Booking Hotels partnered 2.9% Success Rate3 worldwide2 5 Air passage Hotels and holiday packages Others 180 28 Well placed to benefit from tailwinds in Indian OTA market % YoY Revenue Growth API partnerships 1QFY23 vs 1QFY22 with hotels2 FY23E-27E CAGR6: 15% 10% 12% 7% Note: 1. Basis FY22 Gross Booking Revenue vs OTA1 and OTA2 as per the CRISIL Report. 2. As of 30 June 2022. 3. As of 31 March2022. 4. Based on Gross Booking Volumes . 5. Others primarily refers to the sale of rail and bus tickets. 6. As per CRISIL Report. 3 Key Highlights Consistently profitable OTA in India 1 EaseMyTrip operates a de-risked business model Easy to use interface across multiple channels… …backed by robust technological infrastructure to support the expanding business Strong brand reinforced by several marketing campaigns/partnerships Experienced Board of Directors supported by strong management team 5 1 Consistently profitable OTA in India 528.9 467.4 Gross Booking 267.7 209.2 Revenue Profitable since inception (14 years) (USD mn)5 FY20 FY21 FY22 1QFY23 Rapidly growing travel portal3 13.3 PAT1 7.7 (USD mn)5 4.1 4.2 Internally growth funded4 FY20 FY21 FY22 1QFY23 37.8% 44.8% 32.6% Average ROE2of ~38% in last three years ROE2(%) FY20 FY21 FY22 Note: 1. PAT excludes other comprehensive income. 2. ROE is calculated including other comprehensive income in PAT. 3. Growing at 75% on a GBR basis in FY2022 vs FY2021. 4. No external equity infusion since inception. 5. Convertedto USD with an FX rate of USD/INR = 79.5. 6 2 EaseMyTrip operates a de-risked business model E nd - custome rs A sse t ba se E nd - ma rke ts B2C customers1 form the bulk Lean low-cost business Diversifying across end of EaseMyTrip clientele; model markets such as hotels several customer initiatives in and holidays place Note : 1. B2C segment constitutes c. 85% of Gross Booking Volumes -1QFY23. 7 De-risked end-customers (1/2) 2.1 High B2C exposure and customer initiatives lead to a de-risked end customer base B2C segment constitutes c. 85% of Gross Booking Volumes1 85% 13% 2% B2C B2B2C B2E EaseMyTrip offers several appealing features… …that have translated to consistently strong customer engagement 11.0 11.0 10.3 Registered 9.7 No convenience fee2 Customers (# mn)4 FY20 FY21 FY22 1QFY23 Growth in Mobile Traffic 81% 87% 67% 39% (%)8 In house 24*7 call centers with web-support for resolution of Mobile App queries / complaints Downloads 6.4 9.1 9.9 4.2 (# mn)3 FY20 FY21 FY22 1QFY23 Repeat 92% 93% E-tickets and flight alerts through text messages and online 90% Transaction 85% messaging platform Rate6 FY20 FY21 FY22 1QFY23 66% 64% 64% Organic 43% Free full-refund medical policy for air passengers9 traffic 7 FY20 FY21 FY22 1QFY23 5.3% 3.9% 3.7% Look to book 2.1% Discounted airfares to users with unconfirmed train tickets10 ratio5 FY20 FY21 FY22 1QFY23 Note: 1. As of 1QFY23. 2. Applicable only when other discounts and promotion coupons are not being availed. 3. On a cumulative basis. 4. Refers to customers who have provided their unique mobile number and/ or e-mail address, as applicable, on websites andmobile applications in the relevant fiscal/ period. 5. Defined as number of customers in the B2C channel who have executed a transaction out of the total number of customers that visit company websites (www.easemytrip.com and ww.easemytrip.in) and mobile applications in the relevant fiscal/ period. 6. Calculated as percentage of transactions by repeat customers, identified by their unique email address. 7. Refers to the unpaid organic visits received on the websites (www.easemytrip.com and www.easemytrip.in) out of total visits. 8. Refers to the percentage increase of visits to websites (www.easemytrip.com and www.easemytrip.in) and mobile applications through mobile phones out of total visits. 9. Applicable for domestic travel. 10. This offer is valid only for those passengers whose train tickets are waitlisted. 8 De-risked end-customers (2/2) 2.1 High B2C exposure and customer initiatives lead to a de-risked end customer base Service fee charged by other OTA peers1 in the Indian scenario Convenience fee charged (USD)2 Type Direction OTA1 OTA2 OTA3 Domestic One-way 3.6 3.8 4.3 Round-trip 5.8 5.8 6.5 International One-way 11.9 11.9 8.8 Round-trip 17.6 14.5 12.6 Source: CRISIL Report. Note: 1. Data as per respective company websites as of 7th September 2022. The convenience fee chargedvalue mentioned across the players in the above table is for 1 passenger, booking a ticket through the OTA mentioned, under the type mentioned, in the same direction considered, in the economy class. 2. Convertedto USD with an FX rate of USD/INR = 79.5. 9 De-risked asset base 2.2 EaseMyTrip has an efficient cost model vs its competitors LLeeaann ccoosstt mmooddeell ((I%N oRf mGnB)R) Discounts Marketing & Sales Promotion OTA1 OTA2 OTA1 OTA2 4.4% 3.8% 1.6% 3.5% 3.5% 1.5% 2.7% 2.6% 0.9% 0.6% 0.4% 0.2% FY22 1QFY23 FY22 1QFY23 FY22 1QFY23 FY22 1QFY23 FY22 1QFY23 FY22 1QFY23 Employee Expenses Other Expenses1 OTA1 OTA2 OTA1 OTA2 6.2% 6.1% 4.5% 3.7% 3.4% 3.0% 2.0% 1.6% 0.7% 0.6% 1.5% 1.3% FY22 1QFY23 FY22 1QFY23 FY22 1QFY23 FY22 1QFY23 FY22 1QFY23 FY22 1QFY23 Source: CRISIL Report. Note: 1. Other expenses for the above-mentioned players include all the operational and non-operational expenses incurred by the company during the respective financial years excluding marketing sales and promotional expenses, employee expenses and any extraordinary expenses incurred and includes depreciation, finance cost, and service cost. 10 De-risked end markets 2.3 Diversification into new non-air segments Evolving presence across multiple end markets Recent initiatives taken to diversify end-markets 0.5% 2.9% 96.7% Reduced dependency on air bookings 90.6% • Acquired YoloBus, apremium intercity bus mobility platform • Provides luxury coaches and a smart fleet with tech- friendly operations 2.8% 6.5% FY20 1Q FY23 Air passage Hotels and holiday packages Others3 Increasing foothold in Hotels & Holidays… • Acquired Spree, a 1,142-room-keys hospitality management company Zero inventory commitment2 2Mn+ Hotels listed on EaseMyTrip1 • Acquisition adds a new revenue vertical and enables (excluding Spree) EaseMyTrip to fast-track its hotel and holiday portfolios …by offering several customizable packages4 • Partnered with SpiceJet to power their holiday bookings Kerala Singapore Andaman Maldives • EaseMyTrip will develop a platform to provide SpiceJet 4 Nights/5 Days 5 Nights/6 Days 4 Nights/5 Days 4 Nights/5 Days customers with a hassle-free booking experience Starting ~$302 Starting ~$626 Starting ~$453 Starting ~$855 from from from from Note: 1. As on 30 June 2022. 2. The company does not assume inventory risk and typically acts as an intermediary for hotels except for 3 hotels in Spree which are on a revenue share basis . 3. Others primarily refers to the sale of rail and 11 bus tickets. 4. Prices convertedto USD with an FX rate of USD/INR = 79.5. Easy to use interface across multiple channels… 3 Integrated website and mobile apps with user friendly features reflected in high customer ratings Integrated website and mobile application Strong in-app features Continuous customer focus 24*7 Support Secure Access Booking Integrated More than Holiday & No 1 Click Search & Book functionality search with 2mn Hotels Activities convenience multiple listed1 across India fees2 offers & Abroad 4+ ~99% 11 mn Stars on Mobile App Stores1,5 Trusted by Customers Booking Success Rate3 Registered customers1,4 Note: 1. As on 30 June 2022 2. Applicable only when other discounts and promotion coupons are not being availed. 3. As on 31 March 2022. 4. Registered Customers refers to customers who have provided their unique mobile number and/ or e-mail address, as applicable, on the company’s websites and mobile applications. 5. Includes rating of 4.6 and 4.1 on Android and iOS App store respectively. 12 4 …backed by robust technological infrastructure to support the expanding business Airplane Chat Androidmobileappthatallowspassengerstochatin offlinemode Customer Friendly & Advanced AutomatedTechnology Integration for Smooth & Seamless Automated technology for customer refunds, seat and mealbookings Booking Experience Inhouse TechnologyTeam Dedicatedinhousetechnologyteamof78employeeswithdomainexpertise1 Increase in MobileTraffic Growth stood at 87% in FY21 and remained resilient during Covid-19, coming in at 67% in FY22 Advanced & ScalableTechnology First company to introduce online chat box for bookings & price alerts Cloud-based technology with ability to scale up as customer traffic, transactions and bookings increase Enhancing Customer Experience Chatbots allow customers to make new airline ticket bookings, check airline ticket prices and receive airline ticket price alerts Note: 1. As on 30 June 2022. 13 5 Strong brand reinforced by several marketing campaigns/partnerships Campaigns featuring celebrities Marketing Initiatives Partnerships ▪ Focused ▪ Partnership with towards DBS Bank India digital to launch an marketing environment- campaigns friendly green debit card ▪ Brand communication strategies encompass digital, print and social media channels ▪ Launched co- branded ▪ Tie-ups with tourism boards credit and globally to promote destinations debit cards with Standard Chartered ▪ Appointment of brand ambassadors ▪ Widespread network of ~45K+1travel agents across ▪ Sponsorship of sporting India tournaments globally Note: 1. As on 30 June 2022. 14 6 Experienced Board of Directors supported by strong management team Promoters and Directors Nishant Pitti Prashant Pitti Rikant Pittie Co-Founder, Whole-time Director and CEO Whole-time Director Whole-time Director ▪ 13+ years of experience ▪ 10+ years of experience ▪ 10+ years of experience ▪ Area of Expertise: Travel and Tourism Sector ▪ Area of Expertise: Travel, Tourism and ▪ Area of Expertise: Travel and Tourism Sector Construction Sector Independent Directors Justice Usha Mehra Vinod Kumar Tripathi Satya Prakash Independent Director Independent Director Independent Director ▪ 39+ years of experience ▪ 41+ years of experience ▪ 41+ years of experience ▪ Area of Expertise: Legal Sector ▪ Area of Expertise: Taxation, Finance, Textiles and ▪ Area of Expertise: Railways Sector Administration Senior Management Ashish Kumar Bansal Naimish Sinha Lokendra Saini Chief Financial Officer Chief Technology Officer Chief Operating Officer Priyanka Tiwari Nutan Gupta Company Secretary and Chief Compliance Officer President -Alliances K Manivel Vipin Shah Aditya Chawla VP –Revenue Generation & Growth VP –Hotels bus Cabs Head -Operations 15 Indian Travel & OTA Market: Headroom to grow further Total Travel Market (FY23E) Total Travel Market (FY27E) Key Drivers FY23E-27E CAGR 19% 17% The travel industry is expected, to be 24% broadly driven by development of 27% Online tourism infrastructure, increase in connectivity across means of USD 35bn USD 51bn 15% transport, rising income levels etc. Air 54% 59% Ticketing across segments has undergone a change thanks to higher internet penetration, greater 10% affordability of smart phones, user Hotels Rail Air Hotels friendliness of online platforms etc. Online Travel Market (FY23E) Online Travel Market (FY27E) Going forward, online air ticketing is 4% 4% 12% expected to grow further as more 19% 23% 12% Buses 13% travelers (retail as well as corporate) migrate from offline to online platforms USD 23bn USD 37bn 7% Rail In the hotel industry, customers from tier-II and tier-III cities are expected 60% 65% to also start booking rooms online on 12-13% account of the convenience offered by Rail Air Hotels Bus Total online services Source: CRISIL Report. Note: All the market sizes and the CAGR growth figures are calculated basis mid point (except for the total online market). Market sizes convertedto USD with an FX rate of USD/INR = 79.5. 17 Strong tail winds for Indian aviation industry Indian domestic passenger traffic volumes (Number mn) International passenger traffic volumes (Number mn) %YoY growth 1% (62%) 58% 63% 13% (4%) (85%) 118% 180% 15% 330 2.4x 135 2.2x 220 1.6x 95 1.5x 156 142 138 67 62 71 85 54 22 10 FY20 FY21 FY22 FY23E FY24E FY27E FY32E FY20 FY21 FY22 FY23E FY24E FY27E FY32E  Increasing air travel penetration, pent-up demand and improved per-capita  Increasing international operations by Indian LCCs1and under- income post pandemic revival. penetration of international trips per capita for India compared to other developing countries  Furthermore, the UDAN scheme is connecting unserved and underserved  airports Furthermore, increasing FTAs1 due to tourism, VFR1and business opportunities in India, by 2032, air passenger numbers are expected to  Increasing no. of operational airports across India grow at ~2.2x Source: CRISIL Report. All the market sizes and the CAGR growth figures are calculated basis mid point . 18 Note: 1. LCC: Low Cost Carriers, FTA: Foreign Tourist Arrivals, VFR: Visiting Friends and Relatives Key strategies 3 2 1 Continue to expand into segments such as hotel and holiday packages, cabs and buses Focus on strategic acquisitions in India and abroad Focus on expanding its air ticketing model globally Continue to expand the non-air business Inorganic expansion International expansion 20 Key growth strategy (1/3) 1.1 Focused on expanding its air ticketing model globally… Global expansion strategies EaseMyTrip has recently expanded internationally… Recent initiatives Launched first-ever international retail office in I ✓ Start listing on leading Dubai in 2022 meta-search engines Expanded presence to London Philippines, Thailand, and USA in 2021 USA ✓ Launch exclusive cards II Renewed agreement with with large international Dubai Delhi ITQ banks Thailand Philippines Mumbai Search engines ✓ Tie-up with local credit Bangalore card companies India Office Singapore Live Overseas Office India Dubai ✓ Adopt cost-effective III marketing strategies such as Google Ads, …and has already seen immediate success in the Middle East USA UK Philippines that reach a targeted In- audience development +0.63 GMV 0.11 0.15 Thailand Singapore (USDmn)1: April May June Global expansion + localized services in new destinations + growing global associations = Opportunity to capitalize the OTA market Note: 1. Convertedto USD with an FX rate of USD/INR = 79.5. 21 Key growth strategy (2/3) 1.2 …on the back of its no convenience2fee model Service fee charged by other OTA peers1 in the Global scenario Convenience fee charged (USD)3 International International International International International Type Direction OTA1 OTA2 OTA3 OTA4 OTA5 Domestic One-way 26.4 42.9 11.3 10.3 1.2 Round-trip 27.8 49.9 11.3 17.2 1.2 International One-way 23.3 100.8 8.5 10.3 1.2 Round-trip 28.9 106.4 30.4 17.2 1.2 Source: CRISIL Report. Note: 1. Data as per respective company websites as of 7th September 2022 The fee charged value mentioned across the players in the above table is for 1 passenger, booking a ticket through the OTA mentioned, under the type mentioned, in the same direction considered, in the economy class. Conversion rates used are 1 AED (United Arab Emirates Dirham) = 21.72 INR ,1 Rp (Indonesian Rupiah) = 0.0054 INR used wherever applicable. 2. Applicable only when other discounts and promotion coupons are not being availed. 3. Fees converted from INR to USD with an FX rate of USD/INR = 79.5. 22 . Key growth strategy (3/3) 2 Focus on strategic acquisitions in India and abroad 3 Continue to expand the non-air business ▪ Global –Strategic and opportunistic acquisitions in the Expand into higher margin segments such as air-ticketing space hotel and holiday packages ▪ India –Acquisitions in the non-air segment: hotels, holidays, cabs 28 API partnerships with hotels already in place1 and buses ▪ Look to acquire controlling stake, with the aim to partner with existing mgmt. teams Entered into partnerships with insurance firms to provide insurance coverage to customers On the back of its growing track record of acquisitions Planning to launch a currency exchange service for travelers Premium intercity bus 1,142-room-keys mobility platform hospitality management company Note: 1. As of 30 June 2022. 23 Operational segment performance Air Tickets Hotel Nights Trains, Buses & Others Bookings (# ’000)1 Bookings (# ’000)2 157 Bookings (# ’000)3 565 8,900 7,085 72 4,517 255 55 220 45 161 2,239 FY20 FY21 FY22 1QFY23 FY20 FY21 FY22 1QFY23 FY20 FY21 FY22 1QFY23  Have witnessed strong recovery in demand across segments  Air Segment Bookings in 1QFY23 were up by 212% vs 1QFY22  Hotel Night Bookings in 1QFY23 was upby 409% vs 1QFY22  Train, Buses & Other segment in 1QFY23 together have seen bookings of 1,60,000, up 132% vs 1QFY22 Note: 1. Booking net of cancellations 2. Nights in numbers (gross) 3. Transactions in numbers (gross) 25 Key return ratios Cash Flow from Operations3 OCF to EBITDA (USD mn) (%) 9.3 84% 55% 3.5 2.5 14% FY20 FY21 FY22 FY20 FY21 FY22 ROCE1 ROE2 (%) (%) 50.8% 48.3% 45.5% 44.8% 37.8% 32.6% FY20 FY21 FY22 FY20 FY21 FY22 Note: 1. Return on Capital Employed, defined as EBIT divided by the sum of the total equity and borrowings. 2. Return on Equity, defined as profit after tax (including other comprehensive income) divided by the total equity. 3. Converted to USD with an FX rate of USD/INR = 79.5. 26 Headline financial highlights Revenue from Operations EBITDA PAT YoY Revenue Growth EBITDA Margin PAT Margin 24% (15%) 70% 180% 28% 58% 59% 50% 18% 40% 42% 36% 29.6 (USD mn) (USD mn) (USD mn) 20.4 18.5 17.4 13.3 11.0 11.0 7.7 6.3 5.7 4.1 4.2 FY20 FY21 FY22 1QFY23 FY20 FY21 FY22 1QFY23 FY20 FY21 FY22 1QFY23 Note: EBITDA and PAT margins calculated based on the total revenue inclusive of other income. Also, PAT excludes other comprehensive income. Financials converted to USD with an FX rate of USD/INR = 79.5. 27 Resilient financial performance in the face of the global pandemic Margins have held up despite severe headwinds EBITDA Margin (%) PAT Margin (%) 58% 59% 50% 42% 40% 36% 28% 18% FY20 FY21 FY22 1QFY23 FY20 FY21 FY22 1QFY23 Concerted approach towards mitigating the impact from Covid-19 • Proactive approach to: • EaseMyTrip • Specific initiatives to ✓ Reducing discounts leveraged its lean improve operational • Delivered ~85% cost of operations to ✓ Marketing costs efficiencies: ex. PAT growth in FY21, increase efficiencies Shifting towards a ✓ Employee expenses despite it being the during the pandemic messaging platform- peak pandemic year ✓ Other cost (FY2021 and FY led customer care rationalization 2022) approach programs Note: EBITDA and PAT margins calculated based on the total revenue inclusive of other income. Also, PAT excludes other comprehensive income. 28 Income Statement USD mn 1QFY23 1QFY22 FY22 FY21 FY20 Gross Booking Revenue (GBR) (USD mn) 209.2 44.9 467.4 267.7 528.9 Revenue Amount % of GBR Amount % of GBR Amount % of GBR Amount % of GBR Amount % of GBR Revenue from Operation (as per financials) 11.0 3.9 29.6 17.4 20.4 Discounts to customers 5.5 2.2 20.8 7.5 15.6 Adjusted Revenue 16.5 7.9% 6.2 13.7% 50.4 10.8% 24.9 9.3% 36.0 6.8% Other Income 0.5 0.4 1.8 1.5 2.4 (Finance + Non Operating) Adjusted Income 17.0 8.1% 6.6 14.7% 52.2 11.2% 26.5 9.9% 38.4 7.3% Total Expense Discounts to customers 5.5 2.2 20.8 7.5 15.6 Service Cost 0.0 0.0 0.0 0.0 0.5 Employee Expenses 1.2 0.6 3.3 2.6 3.8 Marketing & Sales Promotion 1.3 0.3 4.1 1.9 3.4 Payment Gateway Charges 1.5 0.4 3.1 1.9 4.4 Other Expenses 1.7 0.4 2.4 1.6 4.4 Finance Cost 0.0 0.0 0.2 0.4 0.4 Depreciation 0.1 0.0 0.2 0.1 0.1 Total Expense 11.4 5.5% 4.0 8.8% 34.1 7.3% 16.0 6.0% 32.6 6.2% PBT 5.6 2.7% 2.6 5.8% 18.1 3.9% 10.5 3.9% 5.8 1.1% Tax 1.4 0.7 4.7 2.8 1.6 Other Comprehensive Income 0.1 -0.1 0.0 0.1 0.0 PAT (1) 4.2 2.0% 1.9 4.2% 13.3 2.8% 7.7 2.9% 4.2 0.8% Note:PAT includes other comprehensive income. Financials converted to USD with an FX rate of USD/INR = 79.5. 30 Balance Sheet (USD mn) FY20 FY21 FY22 Total Non-Current Assets 4.6 3.7 20.1 Cash & Cash Equivalents* 16.6 28.9 16.8 Inventory 0.0 Trade Receivables 7.3 3.6 6.6 Other Current Assets 7.9 13.8 17.2 Total Current Assets 31.8 46.4 40.7 Total Assets 36.5 50.0 60.8 Equity Share Capital 2.7 2.7 5.5 Other Equity 10.0 17.7 24.2 Total Shareholders' Equity 12.7 20.5 29.7 Contract liability 4.9 2.7 Long term provisions 0.2 0.2 0.4 Total Non-Current Liabilities 5.1 2.9 0.4 Short Term Borrowings 0.9 2.2 6.3 Trade Payables 3.3 3.2 4.4 Other financial liabilities 9.0 13.5 13.9 Contract liability 2.9 4.7 3.5 Other current liabilities 2.5 3.0 2.6 Total Current Liabilities 18.6 26.7 30.7 Total Liabilities & Equity 36.5 50.0 60.8 Ratios Total Debt / EBITDA 0.1x 0.2x 0.3x Total Debt / Equity 0.1x 0.1x 0.2x Net Debt / EBITDA (2.5x) (2.4x) (0.6x) Net Debt / Equity (1.2x) (1.3x) (0.4x) Note: Sum of cash + bank balances + investments. Financials converted to USD with an FX rate of USD/INR = 79.5. 31 Cash Flow Statement (USD mn) FY20 FY21 FY22 Profit before tax 5.8 10.5 18.1 Adjustments -2.9 -4.5 -1.0 Operating cash flow before working capital changes 2.8 6.0 17.1 Net change in working capital 1.3 6.3 -9.3 Direct Taxes Paid -0.7 -3.0 -5.3 Total operating cash flow 3.5 9.3 2.5 Total investing cash flow -6.9 -2.9 -7.1 Total financing cash flow 0.8 0.0 -3.9 Net Change in Cash & Equivalents -2.6 6.4 -8.5 Cash & cash equivalents as at the beginning of the year 4.3 1.7 8.1 Cash & cash equivalents as at the end of the year 1.7 8.1 -0.4 Note: Financials converted to USD with an FX rate of USD/INR = 79.5. 32 Recent milestones achieved CY21 First Indian OTA listed on BSE & NSE Acquired mobility platform Yolo Expanded operations to Philippines, Thailand, USA CY08 Entered into a partnership with Dubai Expo Founded as a B2B2C portal in Incorporated the EaseMyTrip Foundation 2008 and then achieved CY18 profitability in FY09 CY13 Launched railway ticket booking services Launched hotels & holiday packages business Launched the B2E business with respect to flight booking services CY22 CY11 Launched B2C business Expanded to New Zealand by CY19 incorporating a wholly owned segment for flight subsidiaryin June 2022 booking service Incorporated a wholly owned subsidiary in the UK, and Launched Co-Branded Credit Card acquired 100% subsidiaries in and Debit Card with Standard U.A.E. and Singapore Chartered CY12 Launched its first ever international Launched international retail office, located in Dubai flight bookings services CY15 Crossed the $150mn Gross Booking Revenuemark and launched the EaseMyTrip mobile application 34 EaseMyTrip – a complete travel ecosystem Activities & Attraction Ticketing Domestic & International Airline Tickets . Travel Insurance Hotel Bookings Visa Processing Services Customizable Holiday Packages Taxi & Private Cab Bookings Rail, Bus Ticket Bookings 35 Awards and Accolades Best Travel Website and Booking Best Online Travel Portal -Global Best Travel Portal of India -Global Customer Centric Best Online Travel Portal - Application –Times Travel Business Symposium Fame Awards Business Award -Business International Glory Awards (2019) (2022) (2022) Television India (2021) (2019) ‘‘Enterprise Excellence of the Year (Tourism and 'Best Air Ticketing Company in Hospitality)’-2016 Leaders Awards from 24MRC COO of the Year (Rikant Pittie) Vistara Gold Partner India’ -International Network Private Limited -Global Iconic Awards 2018-19 Achievement Awards (2019) (2017) (2019) 36 Glossary Abbreviation Term API Application Program Interface B2B2C Business to Business to Consumers B2C Business to Consumers B2E Business to Enterprises BSE Bombay Stock Exchange CAGR Compounded Annual Growth Rate EBIT Earnings Before Interest and Tax EBITDA Earnings Before Interest, Tax, Depreciation and Amortization EaseMyTrip Easy Trip Planners Limited FTA Foreign Tourist Arrivals Gross Booking Revenue, defined as the total amount paid by customers for travel services and products booked through the OTAsincluding taxes, fees and other charges, and is GBR net of cancellations, discounts and/or refunds. LCC Low Cost Carriers NSE National Stock Exchange OCF Operating Cash Flows OTA Online Travel Agency PAT Profit After Tax PBT Profit Before Tax ROE Return on Equity, defined as profit after tax (inclusive of other comprehensive income) for the year divided by the total equity ROCE Return on Capital Employed, defined as EBIT divided by the sum of the total equity and borrowings VFR Visiting Friends and Relatives 38